Is XM a Scam?

Is XM a Scam?

Founded in 2009 and with more than a million clients, XM is without any doubt one of the powerhouses in the online trading industry. With a resume like that, it is quite safe to assume that this company can be trusted, but we still wanted to see which security features have been implemented here. In other words, we want to see for ourselves is XM a scam or a legit and reliable company. After spending considerable time trading on their website, we have familiarized ourselves with their security system and will tell you absolutely everything you need to know about in the rest of this text. Read on and see for yourself how a serious company operates.

Is XM a Scam? | Website reliability

As you can read in our XM Review 2017, we tested out every available deposit and withdrawal method. Not a single problem ever occurred and no traces of XM scam were ever noticed. This is because the broker is extra careful when it comes to its clients’ funds which are kept in segregated accounts opened with investment-grade banks. You’ll be happy to know that your money (up to 20,000 euro) is also insured thanks to the Investor Compensation Fund, whereas Negative Balance Protection prevents you from losing more than you have in your account. Other parts of the website, like the trading platform and the customer support work flawlessly too, and the broker has a Verisign certificate to prove it. But there are other evidence that can help you decide is XM a scam. Stay with us to learn what they are.

XM Home Page

Is XM a Scam? | Licenses

You’ll be happy to know that XM is a fully regulated brokerage company on multiple fronts. Given that their headquarters are located in Cyprus, it’s not a big surprise that they have a CySEC licence, and their license number is 120/10. However, the company is also registered with the FCA (reference number 538324), which adds a lot to the company’s credibility. Furthermore, we have to say that everything on this website is done in full accordance with MiFID, a strict directive issued by the European Union. Therefore, in legal terms this broker has absolutely everything a legit broker needs to have and more, so there really is no reason to waste time deliberating is XM a scam or not. Simply put, this is a very professional company that takes excellent care of its clients.

XM Regulation

Is XM a Scam? | Conclusion

As you can see, XM is definitely not a scam but a serious company that puts its clients’ interests above all else. Financial security is absolutely impeccable and the broker has all the necessary licenses, which makes trading here one of the safest investments you can make. For more than eight years these people have been a part of the trading industry, which is quite an achievement. A scam broker simply cannot last that long, not even close. So if you want to be sure your trading partner will treat you well, just open an account on this website and you will always have a place you can visit when an investment opportunity arises.

Author's overall rating:

Author: Ben Prescott

Updated: March 4, 2019

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